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Article: Perkin-Elmer to Sell AI Division.
- Article from:
- Instrument Business Outlook
- Article date:
- January 31, 1999
CopyrightCOPYRIGHT 1999 Strategic Directions International Inc. (SDI). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The announcement of P-E's intended sale is not big news within the industry, where AI has been considered to be on the auction block since at least September.
In an investor conference call following the release of fiscal second quarter results on January 28th, P-E chairman, president and CEO Tony L. White stated clearly what many in the industry have taken for granted for some time: "This business [AI] is not part of our future."
Mr. White went on to say the entire management effort in regard to AI is now focused on getting the most timely sale at the best possible price.
Price remains a big question. P-E is playing to two audiences here. ...